Market Movers: May 20th, 2015

Today's main event is the publication of minutes from the FOMC-meeting on 28-29 April. In the statement from the meeting the Fed said that the slowdown in Q1 was partly transitory, so it will be interesting to see to what degree the FOMC-members have confidence in a rebound in growth in Q2. With the timing of the first rate hike largely data dependent, there is unlikely to be any clear indication on the timing of the first rate hike in the minutes.
 
Chicago Fed President Charles Evans (voter, dove) will speak about monetary policy at 09:00 CET in Munich. Evans has recently been arguing that the Fed should refrain from raising interest rates until 2016 but as one of the biggest doves on the FOMC Evans is not a swing-voter on a decision to raise interest rates. 

Bank of England (BoE) will release minutes from its May MPC meeting. However, the minutes may prove to be a non-event as the Inflation Report released last week covers in great detail the conclusions from the MPC meeting. 

The main focus in the Scandi markets will be on the release of Q1 GDP in Norway.